Gen Z workers are the latest generation of employees. The demographic, defined as those born between 1997 and 2012, is steadily increasing its influence in the workplace as more and more young people join the labor force.
Gen Z have been named the “first global generation,” growing up in a society where global content and information are generally more freely available, and where one-click shopping for goods from anywhere in the world is taken for granted. This may set them on the path to pioneer nomadic careers and develop new ways to make money online.
Generation Z will account for 27 percent of the workforce by 2025. But what will they want from their careers – and what won’t they accept?
The Deloitte Global 2022 Gen Z and Millennial Survey was fielded between November 2021 and January 2022 to find answers to these questions and more. The survey—that covered 14,808 Gen Zs and 8,412 millennials across 46 countries—provides valuable insights into their views about work and the world around them.
According to survey, these generations are deeply concerned about the state of the world. They are worried about the cost of living, climate change, wealth inequality, geopolitical conflicts, and the ongoing COVID-19 pandemic and they are determined to drive positive societal change. However, they are also struggling with daily life challenges such as financial anxiety, lack of work/life balance, and consistently high stress levels.
Some findings of the study are as follows:
- Concerns about the cost of living are top of mind; almost half of respondents say they live paycheck to paycheck
- Pay and burnout are top factors driving job turnover; work/life balance is the top consideration when choosing a new job
- They are taking actions to reduce their personal impact on the environment, but they don’t think businesses and governments are doing enough
- Stress levels remain high among respondents, with many feel burned out due to the workload pressure; organizations need to focus more on well-being and mental health